To me that new Kryptonite looks like it might be an attempt to solve the problem of the mini being too short to fit around more than just the frame when locking to some of the (absurdly oversized) tubular Sheffield racks out there- this way, the lock goes, perhaps, around seat tube and rack, and the second shackle goes through the rear wheel. That way, you've got everything locked up, but there aren't the gaps you get with a "normal" size lock.
To me that new Kryptonite looks like it might be an attempt to solve the problem of the mini being too short to fit around more than just the frame when locking to some of the (absurdly oversized) tubular Sheffield racks out there- this way, the lock goes, perhaps, around seat tube and rack, and the second shackle goes through the rear wheel. That way, you've got everything locked up, but there aren't the gaps you get with a "normal" size lock.